TrinityPoint Wealth LLC Purchases 73 Shares of Zoetis Inc. (NYSE:ZTS)

TrinityPoint Wealth LLC raised its stake in Zoetis Inc. (NYSE:ZTS) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,319 shares of the company’s stock after purchasing an additional 73 shares during the quarter. Zoetis makes up about 0.8% of TrinityPoint Wealth LLC’s portfolio, making the stock its 26th biggest holding. TrinityPoint Wealth LLC’s holdings in Zoetis were worth $4,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in Zoetis by 2.5% in the third quarter. Wellington Management Group LLP now owns 12,344,692 shares of the company’s stock valued at $2,147,730,000 after purchasing an additional 297,044 shares in the last quarter. Northern Trust Corp lifted its position in shares of Zoetis by 3.3% in the third quarter. Northern Trust Corp now owns 6,143,258 shares of the company’s stock valued at $1,068,804,000 after buying an additional 196,771 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Zoetis by 3.1% in the third quarter. Royal Bank of Canada now owns 3,026,518 shares of the company’s stock valued at $526,553,000 after buying an additional 91,713 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Zoetis by 1.4% in the third quarter. Blair William & Co. IL now owns 2,428,509 shares of the company’s stock valued at $422,512,000 after buying an additional 32,918 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Zoetis by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,766,671 shares of the company’s stock valued at $348,688,000 after buying an additional 105,469 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on ZTS. StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group cut their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Stifel Nicolaus reduced their price target on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Barclays reduced their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. Finally, Piper Sandler restated an “overweight” rating and issued a $195.00 price target (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $211.75.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total transaction of $139,529.91. Following the completion of the transaction, the executive vice president now directly owns 14,800 shares in the company, valued at approximately $2,237,316. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Zoetis Price Performance

Shares of NYSE:ZTS opened at $170.07 on Monday. The firm has a 50 day moving average of $164.11 and a 200-day moving average of $179.77. The stock has a market capitalization of $77.60 billion, a PE ratio of 32.77, a PEG ratio of 2.64 and a beta of 0.86. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92.

Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.34 by $0.04. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 EPS. On average, equities research analysts predict that Zoetis Inc. will post 5.76 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be given a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, July 18th. Zoetis’s payout ratio is presently 33.33%.

Zoetis Profile

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.